FRIDAY NEWS DUMP: Geithner Declines To Label China A Currency Manipulator

Timothy Geithner

[credit provider=”Wikipedia”]

Nice Friday news dump!Just as everyone is jetting for the beach, Treasury has come out and declined to label China a currency manipulator.

This is obviously an uber-political situation, because the yuan is OBVIOUSLY manipulated, and the Treasury OBVIOUSLY believes so, but…

They can’t say it.

Even in the latest announcement, the Treasury states that the yuan is “substantially undervalued” and that the process so far has been insufficient.